Fuel rebates must be claimed on your monthly or quarterly Business Activity Statement.
In Agrimaster you will need to have a separate code for Petrol (ULP/LRP), Diesel, and Oil and Grease (unless this is included elsewhere in your code list).
When entering a fuel invoice, you will need to split the items into these codes and record the litres for Petrol (ULP/LRP) and Diesel separately.
You will need to set up your Fuel Tax (this replaces the diesel fuel setup)
If you previously had the diesel fuel set up you will need to modify it.
To access the new Fuel tax setup:
- From the Home Page, click Setup & Tools
- Click Cashbook Setup
- Click Tax
- Click Setup Fuel Tax Rebate
If you wish to record diesel fuel separately for different parts of your business (within the same ABN) for example - two tanks, one for the farm and one for the bus run.
You can create Multiple Entities. See the help note Setting up Fuel Tax Rebate - Multiple Entities
The first step is to create an entity for Diesel Fuel.
The Entity “Farm” is created automatically if you have previously used the Fuel Tax Setup or if we set up your Agrimaster file. If you have not previously set up the Fuel tax you will need to create the Entity “Farm”
- Under the Fuel Tax Entities tab, type "Farm" in the box under Enter name of new entity and click on Green Tick
- Tick Activate in cashbook & Activate in budgets
TIP: If you are using Fuel for a singular enterprise e.g. cropping, you can select the enterprise from the drop-down menu next to Select an Enterprise to which this Fuel Tax Entity belongs.
- Click on the Fuel Codes and Usage tab
- Select your Fuel codes as per the below screenshot
If you don't rebate or payment code for diesel or petrol, click Add/Edit Code List to access the Code setup screen
- Insert the litres (first column) or percentages (second column) for Diesel and Petrol respectively
TIP: When you enter your quantity of litres purchased in transactions, these figures will add up and be displayed in these top two grey boxes of the current BAS period.
- Once you have completed the Fuel Codes and Usage setup, click the green tick.
- Click on Fuel Tax Full Budget Setup. Type an approximate cost for diesel and petrol per litre in cents (no decimal).
- Type in estimated percentages for how much of the diesel and petrol will be used for each category. Consult with a business consultant or accountant for reasonable percentages.
- Click on the green tick then the black cross
For more information on how to enter fuel transactions, please see Entering Fuel Transactions